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According to professor of strategy Arnaud Chevallier, elaborating an approach used at McKinsey & Company, [3] there are two types of issue trees: diagnostic ones and solution ones. [4] Diagnostic trees break down a "why" key question, identifying all the possible root causes for the problem.
The McKinsey 7S Framework is a management model developed by business consultants Robert H. Waterman, Jr. and Tom Peters (who also developed the MBWA-- "Management By Walking Around" motif, and authored In Search of Excellence) in the 1980s. This was a strategic vision for groups, to include businesses, business units, and teams. The 7 S's are ...
Strategy consultants use MECE problem structuring to break down client problems into logical, clean buckets of analysis that they can then hand out as work streams to consulting staff on the project. Similarly, MECE can be used in technical problem solving and communication.
McKinsey & Company's founder, James O. McKinsey, introduced the concept of budget planning as a management framework in his fifth book Budgetary Control in 1922. [ 39 ] : 25 [ 148 ] : 422 The firm's first client was the treasurer of Armour & Company , who, along with other early McKinsey clients, had read Budgetary Control .
Professor Richard P. Rumelt described strategy as a type of problem solving in 2011. He wrote that good strategy has an underlying structure called a kernel . The kernel has three parts: 1) A diagnosis that defines or explains the nature of the challenge; 2) A guiding policy for dealing with the challenge; and 3) Coherent actions designed to ...
The Big Three or MBB is the name colloquially given to the three largest strategy consulting firms. They are considered to be the most prestigious firms in the management consulting industry. [1] In terms of employees, McKinsey & Company is the largest and leads by revenue. McKinsey is followed by Boston Consulting Group and Bain & Company ...